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News Breaks
May 9, 2014
08:02 EDTBECNBeacon Roofing reports Q2 EPS (25c), consensus (6c)
Reports Q2 revenue $384.9M, consensus $416.84M. Paul Isabella, the company’s President and CEO, stated: “Severe winter weather that ranked among the 10 coldest on record in many states across the upper Midwest to the Southeast had a significant impact on our results this quarter. Multiple winter storms that brought record snowfall and freezing rain delayed both residential and commercial roofing projects across our core markets. However, during this period of soft demand we utilized the strength of our balance sheet to make strategic investments in equipment and inventory to grow our business. We believe these investments, along with employee training and our greenfield expansion, will help us maximize our opportunity related to re-roof growth, which is the bulk of our core business. We are especially excited about opening our eighth new branch of the year and are planning on as many as 25 for the full year. Finally, we remained focused on our long standing culture of cost control and leveraging of our operating expenses. All these actions have us well positioned to take advantage of the traditionally high seasonal demand in the second half of the year. We believe the second half of the year volume will be strong for both our residential and commercial markets.”
News For BECN From The Last 14 Days
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October 1, 2014
10:19 EDTBECNBeacon Roofing acquires Applicators Sales & Service
Beacon Roofing Supply announced that it has acquired Applicators Sales & Service. Applicators has remained owned by the Koocher and Robinov families with four branches in Maine, one in Salem, New Hampshire and annual sales of approximately $48M.
September 28, 2014
19:12 EDTBECNBeacon Roofing shares could climb 40%, Barron's says
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September 26, 2014
10:01 EDTBECNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actuant (ATU) downgraded to Market Perform from Outperform at FBR Capital... Air France-KLM (AFLYY) downgraded to Underperform from Hold at Jefferies... Beacon Roofing (BECN) downgraded at Longbow... China Unicom (CHU) downgraded to Hold from Buy at Deutsche Bank... Erickson (EAC) downgraded at Stifel... H.B. Fuller (FUL) downgraded to Neutral from Overweight at Piper Jaffray... Philip Morris (PM) downgraded at BofA/Merrill... Seadrill (SDRL) downgraded to Sell from Neutral at Goldman... Starwood Property (STWD) downgraded to Neutral from Buy at Compass Point... Steel Dynamics (STLD) resumed with a Neutral from Buy at Citigroup... Vale (VALE) downgraded to Neutral from Buy at Citigroup.
08:28 EDTBECNBeacon Roofing downgraded at Longbow
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05:45 EDTBECNBeacon Roofing downgraded to Neutral from Buy at Longbow
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September 25, 2014
15:18 EDTBECNBeacon Roofing management to meet with SunTrust
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